Automatic Data Processing, Inc. $ADP Stock Bought by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 83,281 shares of the business services provider’s stock after acquiring an additional 4,957 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Automatic Data Processing were worth $21,491,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Automatic Data Processing during the second quarter worth approximately $8,097,229,000. Bank of America Corp DE acquired a new position in Automatic Data Processing during the second quarter valued at approximately $1,231,175,000. Deutsche Bank AG acquired a new position in Automatic Data Processing during the second quarter valued at approximately $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Automatic Data Processing by 3.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after purchasing an additional 129,376 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Automatic Data Processing in the second quarter valued at approximately $725,513,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Michael Bonarti sold 6,812 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $310.00, for a total value of $2,111,720.00. Following the sale, the vice president owned 81,849 shares of the company’s stock, valued at $25,373,190. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Jonathan Lehberger sold 770 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $300.35, for a total transaction of $231,269.50. Following the completion of the sale, the vice president directly owned 4,961 shares in the company, valued at approximately $1,490,036.35. The trade was a 13.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 50,207 shares of company stock worth $14,522,300 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $285.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, October 29th. UBS Group raised their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $290.00 target price on shares of Automatic Data Processing in a report on Thursday, October 29th. Wells Fargo & Company lifted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Guggenheim reissued a “buy” rating and set a $340.00 target price on shares of Automatic Data Processing in a research report on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $285.00.

Automatic Data Processing Stock Up 0.5%

Shares of ADP stock opened at $307.92 on Friday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $311.89. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average price of $280.85 and a 200 day moving average price of $242.86. The stock has a market cap of $121.55 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 2.75 and a beta of 0.77.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 12.38 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 11th will be given a dividend of $1.90 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.70. The ex-dividend date is Friday, December 11th. This represents a $7.60 annualized dividend and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 60.28%.

About Automatic Data Processing

Automatic Data Processing, Inc. (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software. ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.